Data visualization using Dynamic Paint /Particle System
From description it's quite hard for me to understand if your question is a goal of your needs or only if your question covers your vision - to get something you know about it.


  Is it possible to convert my datacloud into a Particle System?


Yes. 


Create "New" particle system with your point cloud (brush) object selected
Setup the number of particles same as vertices of your "brush" object
Set Emit from "Verts" (uncheck "Random")
"Physics" set to "No"
In "Render" panel of particles properties check on "Unborn" and "Died"


From how many vertices point cloud consist? Just select object and see header of blender window (next to the logo - "Vert:").


From your screen it looks like vertices represents some volume. For
that you can visualized vertices with new "Point Density" node. Check
this part of video https://youtu.be/GhwzIQ6qZO8?t=464
If you'r looking for a way to convert your point cloud into a mesh
search for remesh  or point cloud skinning.